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How to Earn Leaderboard Points
On Octav you can only earn points for correctly validating transactions that have: 1. Reached a consensus amongst other Octav community members validating a transaction that interacted with the same smart contract and,
2. Been verified by our machine learning algorithm. The transactions eligible for points are marked in red "to be reviewed".
To properly validate a transaction You must correctly edit both the:
- Transaction type, &
Although the price & quantity is also editable, it is not taken into consideration for points and validations. However, we recommend making sure the information is correct so you can track exactly how much money you earn on-chain and are ready for tax season. Once you validate both the transaction type and the protocol, it is sent for review where our algorithm will wait until more Octav community members validate a transaction that interacted with the same smart contract. You will not immediately receive points if a consensus has not been reached amongst other validators. You will only get points once consensus is reached. How to reach consensus Consensus can be reached when there is a minimum of 5 (often more) different wallets that validate transactions that interact with the same smart contract. For example, if you edit and validate your Uniswap transaction with the transaction type as “Swap” and the protocol as “Uniswap”, in order to get the full point at least 4 (often more) other wallets need to edit the same transaction as a “Swap” on “Uniswap”. It is possible that you may validate a transaction that is less popular (few interactions on chain), that may take a while until there are other wallets that validate transactions that interact with the same smart contract so you can get your point. Naturally the most commonly used protocols will reach consensus first. This is why we encourage the community to motivate each other to validate transactions because the more wallets we have validating all their transactions, the faster we reach consensus, and the faster you will receive points.
Once consensus is reached for a transaction and reviewed by the Octav team, points are distributed the following day. Only correct validations that reached consensus and reviewed by the Octav team will earn points. This is to prevent people from trying to farm points by validating this same transaction over and over again. This will not work, and they will only receive 1 point for the first time they correctly validated the transaction that interacted with the same smart contract. To start validating transactions on Octav:
1. From your Octav Dashboard, go to the "transactions" page
- 2.On your transaction page, identify transactions marked in Red that need to be validated.
- 3.If you see transactions marked in green "validated". No further action needs to be taken. Your objective will be to turn all your transactions marked in red to green.
- 4.To earn points, you need to label and validate your transactions in red. Here lets look at an "Unknown" transaction as an example.
4.1 Click on the transaction to open the labelling interface.
4.2 I know that since I did this transaction a few days ago it was my interaction with Safe. Since the transaction type is already correct, I do not need to update it. To update the protocol, I will know click on "unknown" to open the protocol list. The protocol list has almost all protocols on that chain listed.
4.3 I find "Safe" on the protocol list and click on it to enter my desired protocol.
4.4 Now my transaction is labeled and ready to be validated. All that is left to do it click "validate".
4.5 Now that my transaction is validated. I can move to the next transaction that needs to be reviewed.
- 5.Your submitted validation will be reviewed by the Octav team to filter for spam/wrong answers. Only correct validations will earn points. Points are distributed once every 24 hours. Once a correct validation is reviewed. All other interactions with that smart contract in your wallet, and everyone elses wallet, will already be verified. This is how we as community can all work together to label the entire DeFi ecosystem. This is also to prevent people from trying to farm points by validating this same transaction over and over again. This will not work, and you will only receive 1 point for the first time you correctly validated the transaction.